Glaukos (NYSE:GKOS) Stock Rating Lowered by StockNews.com

Glaukos (NYSE:GKOS) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also weighed in on GKOS. Jefferies Financial Group upgraded shares of Glaukos from a “hold” rating to a “buy” rating and increased their price objective for the stock from $84.00 to $125.00 in a research note on Monday, May 6th. BTIG Research raised their price target on shares of Glaukos from $107.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Needham & Company LLC raised their price target on shares of Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Mizuho raised their price target on shares of Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Finally, Citigroup lowered shares of Glaukos from a “buy” rating to a “neutral” rating and raised their price target for the company from $130.00 to $132.00 in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $112.45.

Glaukos Trading Down 1.7 %

NYSE GKOS opened at $121.09 on Friday. The company has a fifty day simple moving average of $113.23 and a two-hundred day simple moving average of $99.16. The stock has a market cap of $6.10 billion, a P/E ratio of -42.05 and a beta of 1.06. Glaukos has a 12-month low of $59.22 and a 12-month high of $125.47. The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The company had revenue of $85.60 million during the quarter, compared to analysts’ expectations of $79.60 million. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.59) EPS. On average, analysts forecast that Glaukos will post -2.24 earnings per share for the current year.

Insider Transactions at Glaukos

In other news, COO Joseph E. Gilliam sold 2,250 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $121.39, for a total value of $273,127.50. Following the transaction, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at $12,362,964.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Glaukos news, COO Joseph E. Gilliam sold 2,250 shares of Glaukos stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $121.39, for a total transaction of $273,127.50. Following the transaction, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at $12,362,964.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alex R. Thurman sold 353 shares of Glaukos stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $110.51, for a total transaction of $39,010.03. Following the transaction, the chief financial officer now directly owns 51,647 shares in the company, valued at $5,707,509.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,444 shares of company stock valued at $2,411,171. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently made changes to their positions in GKOS. Norges Bank acquired a new stake in shares of Glaukos during the fourth quarter valued at about $28,807,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Glaukos during the fourth quarter valued at about $15,065,000. Iron Triangle Partners LP increased its position in shares of Glaukos by 75.6% during the first quarter. Iron Triangle Partners LP now owns 429,525 shares of the medical instruments supplier’s stock valued at $40,500,000 after acquiring an additional 184,919 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Glaukos by 23.7% during the fourth quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock valued at $62,800,000 after acquiring an additional 151,415 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Glaukos by 127.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 166,054 shares of the medical instruments supplier’s stock valued at $15,657,000 after acquiring an additional 93,076 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Company Profile

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.